Czech banks reduce their property holdings

Banks continue to off-load property in the Czech Republic. The headquarters building of UniCredit Bank at náměstí Republiky in Prague 1 is reportedly on the market (though the bank is expected to remain there as a tenant) while the headquarters building of Komerční banka at Na Příkopě is also thought by some market watchers to be up for grabs. Petr Plocek, spokesman of UniCredit Bank, told the server e15 that the number of brick-and-mortar branches will decrease in favor of on-line business in the banking sector. ČSOB sold off four properties in 2015, while Česká spořitelna has sold 40 over the past five years.